Be a Wise Investor

Taxpayers must keep all the required details like PAN, Form 16 and other important documents in hand while filing the returns Until the last assessment year, i.e., AY 2017-18 there was no penalty for filing belated income tax returns.  Now, as per section 234F, an individual would have to pay a fee of up to Rs 10,000 for filing ITR after the due date. India: Friday is the last date to file  Income Tax return  or ITR . This year, tax filers are required to submit the returns for 2017-18 financial year and the assessment year would be 2018-19. The deadline to file income tax return (ITR) which was extended by a month to August 31, 2018 is expiring today. If you still have not filed your tax return, it is important that you do it on time due to the changes introduced in last year's Budget.  However if you still delay in filing yout ITR then you might face: The Penalty Last finacial there there was no penalty for late filing of ITR b...

Atal bihari Vajpayee may have passed away but not his achievements and lessons.  Long live and prosper, Atal Bharat Key takeaways and achievements by Shri Atal Bihari Vajpayee, that sprung up major political, financial, development, and social reforms in Indian history. Atal ji in Numbers: Lived 93 years ( 25 Dec 1924 - 16 Aug 2018 ) 10th Prime Minister of India Prime Minister for 3 times ( 13 days in 1996, for a period of eleven months from 1998 to 1999, and then for a full term from 1999 to 2004) In his 3rd term as PM, the GDP rate was above 8%, inflation was below 4% and foreign exchange reserves were overflowing. Look East policy:  "Look East" policy was developed and enacted during the governments of prime ministers P.V. Narasimha Rao (1991–1996) and further developed by Atal Bihari Vajpayee (1998–2004). The Look East policy back then emerged as an important foreign policy initiative of India in the post-Cold War period, following the colla...

4 reasons why you should invest in tax saving mutual fund SIP      One should always plan their tax related investments in advance and invest through SIP route in ELSS to get the benefit of rupee cost averaging.                           By investing in ELSS mutual funds, one is eligible for tax deduction up to Rs. 1,50,000 u/s Section 80C of Income Tax Act. If you invest Rs. 1,50,000 in ELSS, you will save Rs. 45,000 (30% on top tax bracket). So the amount that you plan to invest in ELSS can be deducted from your income before calculating taxes. This is subject to an overall cap of Rs. 1,50,000 on the investment amount along with other tax saving instruments.  Start investment early Many tax-payers normally tend to start investing in ELSS funds only towards the end of the financial year, when the time to submit investment proof is upon them. This is a bad investment and tax-plan...

Life insurance plans come in many variants. You can buy a plan which replaces the lost income in case of death of the bread-winner or a plan which specifically plans for your child’s future. There are plans which are designed for retirement funding while others help you enjoy capital market returns. Every life insurance plan has a different benefit structure and fulfils different needs. However, most often than not, you get confused between the different life insurance plans. You believe that they are similar to each other. Take the instance of a term plan and a money back plan. You believe that both these plans are similar to each other. Are they? No they are not. Term insurance is different from money-back plans. Let’s explore how – Term insurance plans Term insurance plans , generally, cover your death risk. In case of death of the insured during the chosen tenure, the sum assured is paid. The USP of term plans is their premium. Since only the death risk is covered th...

Sensex bounced 600 pts back; top factors that fuelled buying spree on Dalal Street The domestic equity market made a smart comeback on Monday after a disappointing last week, as BSE Sensex surged over 450 points to 33,759, while Nifty50 rose 142 points to 10369 in late afternoon trade.  So what drove Monday’s bull run? Going by the buzz on Dalal Street here is a list of key factors that lifted the market.

W arren Buffett| Net worth - USD 87.3 billion| CEO and largest shareholder of Berkshire Hathaway Warren Buffett continues to be one of the richest in the world. The firm has stakes in Coca-Cola, American Express and Wells Fargo, among other profit-making firms Here are five quotes of the great investor – Warren Buffett that may help you to create wealth in long term When stock markets turn volatile many investors find it difficult to stay the course. Some investors want to sell off and want to hoard their cash. Some prefer to start buying the stocks that are falling the most. But such knee-jerk reactions may not create wealth for you. Here are five thoughts of Warren Buffett that may guide you in your investment actions in such volatile times. It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price. Quality matters. Just because a company has fallen 20% from its 52 week high does not make it a great value buy. Do check the...